[Updated at 4:26 p.m. ET.] Gannett's stock closed today at $13.57, up 64 cents, or 5%, as investors reacted to management's presentation this morning to the UBS Global Media and Communications Conference. Shares traded as high as $14.47 earlier in the day.
The Dow Jones Industrial Average and the S&P 500 index, a broader measure of overall market activity, both ended up less than 1%.
The headline out of the event appears to be news of a 5.5% publishing advertising revenue decline in the current quarter. In other words: Could have been worse.
The Dow Jones Industrial Average and the S&P 500 index, a broader measure of overall market activity, both ended up less than 1%.
The headline out of the event appears to be news of a 5.5% publishing advertising revenue decline in the current quarter. In other words: Could have been worse.
I'll take it. Best news in a long time.
ReplyDelete